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Cheaper Dollars?


wealthymattersYesterday the local forex market closed at Rs 56 per USD. So depending which institution a person chose to patronize,whether he/she was buying or selling dollars and in which form, he/she would have paid a price close to Rs56 per USD along with the institution’s commission and/or transaction costs.

However the currency desktop gadget that Microsoft  packs with Windows 7,that I have active on my desktop showed only Rs54.8 per USD.

Now does anyone have any idea where this Microsoft desktop gadget picks up its data from?Is it accurate?

Is this by chance the Visa determined rate and/or the rate banks and other financial institutions have to pay in the international market?Do you know of some way for an individual to get these rates?For example Visa cards in India are issued by banks and Reliance MF in India.All of them charge a fee over the visa rate.Is there some way an individual can get these rates?

If you know of any way to get better rates please let me know.The recent fall of the rupee has become a nuisance as so many thing have jumped in price overnight.

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About Keerthika Singaravel
Engineer,Investor,Businessperson

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